XRP is continuing to crawl towards the $4.00 barrier, driven by strong technical momentum and potential regulatory developments. Over the week, the price rose by 8.53% to reach $3.2493, amidst multiple signals that the currency may be in the early stages of a broader bullish cycle.
📈 Wave structure supports the upward trend
XRP is currently moving within minor wave 3, which is part of intermediate wave 5, which in turn completes major wave 1. This alignment across multiple degrees of trend suggests that the currency may enter a dynamic growth phase, especially if it maintains the current wave structure without breaking the bottom of wave 4.
🔍 Market indicators reinforce optimism
- Funding rates are positive, reflecting the market's bias towards buying
- Open interest in futures is rising, indicating increased participation from traders
- The liquidity map shows a large accumulation above the current price, which could attract the price towards higher targets during the third wave
🧠 Overall momentum supports XRP
According to CME Group's FedWatch tool, there is a 93.6% chance of a rate cut at the next Federal Reserve meeting in September. This expectation could stimulate individual investor entry, bolstering the bullish momentum of the currency.
🐋 Smart money is moving early
Data indicates that institutions may have begun accumulating already near the end of wave 2, suggesting that the current momentum could be driven by retail above an institutional base — a classic dynamic in the development of the third wave.
🎯 Near-term technical targets
- Resistance Level 1: $3.50
- Resistance Level 2: $3.88
- Expanded target: $4.10 according to [InsideBitcoins] analysis
⚠️ Alternative scenario
If the bottom of wave 4 is broken, the current impulsive count may be invalidated, opening the door for a more complex correction. However, as long as the technical structure remains intact, XRP is well-positioned to continue its upward trend.
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